Denver PWM LLC Sells 53 Shares of Meta Platforms, Inc. (NASDAQ:META)

Denver PWM LLC lessened its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 15.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 289 shares of the social networking company’s stock after selling 53 shares during the period. Denver PWM LLC’s holdings in Meta Platforms were worth $166,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. International Assets Investment Management LLC lifted its position in shares of Meta Platforms by 57,001.5% in the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after purchasing an additional 9,500,444 shares in the last quarter. Integrated Investment Consultants LLC lifted its position in Meta Platforms by 61,769.3% during the 3rd quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock worth $2,365,820,000 after buying an additional 4,126,190 shares in the last quarter. Sustainable Growth Advisers LP acquired a new position in shares of Meta Platforms during the 2nd quarter worth about $595,152,000. World Investment Advisors LLC grew its holdings in shares of Meta Platforms by 4,658.5% in the 3rd quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock valued at $520,662,000 after acquiring an additional 890,434 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Meta Platforms by 1.5% in the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock valued at $27,470,870,000 after acquiring an additional 698,884 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Raymond James reaffirmed a “strong-buy” rating and set a $675.00 price target on shares of Meta Platforms in a research report on Monday, November 25th. Wedbush reaffirmed an “outperform” rating and set a $600.00 price target on shares of Meta Platforms in a research report on Thursday, September 26th. Wells Fargo & Company decreased their price objective on shares of Meta Platforms from $652.00 to $641.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Mizuho boosted their price objective on shares of Meta Platforms from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, Tigress Financial raised their target price on shares of Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research note on Friday, August 16th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average price target of $635.20.

Meta Platforms Stock Down 0.3 %

Shares of NASDAQ:META opened at $630.79 on Friday. Meta Platforms, Inc. has a 52-week low of $328.64 and a 52-week high of $638.40. The company has a market capitalization of $1.59 trillion, a PE ratio of 29.71, a price-to-earnings-growth ratio of 1.39 and a beta of 1.20. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The company has a fifty day moving average of $583.48 and a 200-day moving average of $536.44.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.19 by $0.84. The firm had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. On average, equities analysts predict that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 16th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend is Monday, December 16th. Meta Platforms’s dividend payout ratio (DPR) is currently 9.42%.

Insider Activity

In related news, CEO Mark Zuckerberg sold 35,921 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $633.25, for a total value of $22,746,973.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $407,167.00. Following the transaction, the chief accounting officer now owns 3,414 shares of the company’s stock, valued at approximately $1,901,598. The trade was a 17.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 214,002 shares of company stock valued at $126,740,653. Insiders own 13.71% of the company’s stock.

About Meta Platforms

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.